Posted on: 31st Mar, 2009 09:55 am
I want to create a more secure transfer of my home to my "domestic partner" if I should die. We do not want to marry but she will be living with me shortly. I want to protect any probate or family from attaching claim to the home should I die. What is the best legal instrument to do this ?
I live in Texas.
I live in Texas.
Hi mournblade!
Welcome to forums!
You can go for a joint tenancy with right to survivorship. This will help your domestic partner to inherit the property directly after your death. In this case, the property does not go for a probate. I would suggest you to contact an attorney while drafting the deed. He will be able to help you in filling out the deed.
Sussane
Welcome to forums!
You can go for a joint tenancy with right to survivorship. This will help your domestic partner to inherit the property directly after your death. In this case, the property does not go for a probate. I would suggest you to contact an attorney while drafting the deed. He will be able to help you in filling out the deed.
Sussane
Are there other alternatives ? This allows the joint tenant's creditors to come after me while I'm alive yes ? I would prefer my girlfriends (joint tenant) creditors not have reach of me while I'm alive and vice versa through the deed.
By the way I still pay on the mortgage and understand the mortgage is a separate entity but one of security against the property. Is there a way to get my mortgage company (bank) to approve of the transfer of payments without a credit score criteria to assume payments ?
By the way I still pay on the mortgage and understand the mortgage is a separate entity but one of security against the property. Is there a way to get my mortgage company (bank) to approve of the transfer of payments without a credit score criteria to assume payments ?
Hi mournblade,
Yes, in case of joint tenancy with right to survivorship, the creditors of your joint tenant can come after your property. In such a situation, it would be better if you could go for a will. After your death, your partner would probate it and transfer the property in his/her name.
The mortgage company would let your partner assume your loan only if your partner has a good credit score and financial situation.
Yes, in case of joint tenancy with right to survivorship, the creditors of your joint tenant can come after your property. In such a situation, it would be better if you could go for a will. After your death, your partner would probate it and transfer the property in his/her name.
The mortgage company would let your partner assume your loan only if your partner has a good credit score and financial situation.